Business
mCig(R), Inc. Forms Colorado Subsidiary mCig CBD Technologies, LLC.
mCig(R), Inc. Forms Colorado Subsidiary mCig CBD Technologies, LLC..
About this update from Bots Inc.
[{"type":"text","content":"\nBELLEVUE, Wash., Sept. 30, 2014 (GLOBE NEWSWIRE) -- mCig®, Inc. (OTCQB:MCIG) (\"mCig\"), a technology company that owns, manufactures, and distributes the mCig®, VitaCig®, and Vapolution products, is pleased to announce that the Company has formed a 100% owned subsidiary: mCig CBD Technologies, LLC. in the state of Colorado for the purpose of designing and manufacturing a new line of products that will leverage the VitaCig technology for delivery of Cannabis plant derivatives. The Cannabis plant is a unique source of over 70 cannabinoid molecules of which only THC is known to cause psychoactive effects. Cannabinoids such as Cannabidiol (CBD) have shown to have positive medicinal effects on various hard-to-treat diseases such as epilepsy.\n\n\tThis new line of products will be named: \"mCig+\" and will include pre-packaged devices that look similar to the company's VitaCig® line of products. These products will only be sold to licensed distributors and dispensaries in jurisdictions around the world where the consumption of Cannabis and Cannabidiol is permitted.\n\n\tThe company will be building on nearly a decade of experience in bringing vaporization products to market such as the Vapolution, mCig®, and VitaCig®. In the last year alone mCig, Inc. has launched 3 consumer products that have touched the lives of nearly 30,000 customers worldwide.\n\n\tmCig CBD Technologies, LLC. will remain 100% owned by mCig, Inc. following the proposed spinoff, dividend, and IPO of VitaCig® Inc.\n\n\t\"We are extremely excited to be entering yet another frontier market. We believe to have identified an opportunity to apply our experience in mobile vaporization in applications for the delivery of cannabis plant derivatives and molecules. There is currently a massive effort underway globally by biotechnology companies and scientific research institutions to explore and understand the ultimate potential of the cannabis plant. This push has already yielded some important results such as those witnessed for Dravet syndrome, a rare form of intractable epilepsy. We believe that our products and brand recognition provide us with a commercial opportunity to manufacture and distribute pre-packaged devices with various cannabis plant molecules such as CBD, CBC, THC, CBG, CBN, THCV, CBDV, CBDA, and many others. We have al...